Multiple sources told The Hollywood Reporter that the movie was sold to Millenium for just under $4 million despite the fact that it cost between $15 million and $17 million to produce. The film itself has been receiving mixed reviews from critics since it was premiered at the Eccles Theatre last Friday, January 20.

Filmed in Barcelona and Toronto, "Red Lights" follows a para-psychologist who attempts to debunk a very reputable psychic, who has just returned to the limelight after 30 years. In addition to De Niro and Weaver, the paranormal thriller stars Elizabeth Olsen, Cillian Murphy and Toby Jones. Serving as the director and screenwriter is Rodrigo Cortes.

Of the acquisition, Millennium CEO Bill Lee said in a statement, "We are thrilled with 'Red Lights' and excited to distribute the film. This definitely has theatrical potential and we plan to give it a standard theatrical platform release, with ancillaries coming 90-100 days later."

"We came to Sundance with the intention of buying 'Red Lights' if it was good, and we thought Rodrigo did a fabulous job with the film," Lee continued. "UTA was terrific to deal with, and we're both thrilled and proud to distribute the film."